Spain 
Italy 
Greece 
Apollo is Negotiating 277 Properties Under Sale by Fidelidade
4 June 2018
Apollo Global Management is negotiating the acquisition of a portfolio of 277 properties with the insurer, Fidelidade. 51% of the properties are located in Lisbon and 12% in Porto.
The asset manager was selected for preferential negotiations after the insurer analysed the three competing proposals that went to the last stage of the negotiation process, the Jornal Econômico reported, noting that the other two competitors were Oaktree Capital and Bain Capital.
A source at Fidelidade said that the insurer had chosen one of the three for preferential negotiations, adding, however, that “confidentiality prevents” the identification of the selected institution.
Any interested parties who were interested in the portfolio of properties that Fidelidade put up for sale in October of last year had until November 17 to make a preliminary assessment and submit a non-binding purchase offers. After this phase of the process, three competitors were chosen to submit binding offers, and one was chosen for the preferential negotiations.
Original Story: Idealista
Translation: Richard Turner